By Jenniffer B. Austria Posted on Jul. 16, 2013 at 12:01am
SM Prime Holdings Inc. said Monday it built a 1.1-megawatt rooftop solar power project in its mall in Xiamen, Fujian province, China.
SM Prime said in a disclosure to the stock exchange the project consisted of the installation of 3,740 solar panels on the roof of SM City Xiamen Phase 1 and Phase 2 (SM Lifestyle Center), with a total investment of 13.2 million Renminbi, or $2 million.
The total capacity of the SM Xiamen rooftop solar power project is 1,100-kilowatt peak.
The project is in line with SM Prime’s commitment to reduce greenhouse gas emissions and optimize energy efficiency in its malls.
The average generated electricity of the project is estimated at 1.1 million kilowatt- hour per year, while the total power output of the 25-year life cycle will be approximately 27.5 million KWh.
“SM Prime is constantly in pursuit of the highest level of operational efficiency. We want to significantly reduce greenhouse gas emissions and operating costs by minimizing electricity consumption. In line with this, we place strong emphasis in investing in the latest innovations in sustainable and energy efficient technology,” SM Prime president Hans Sy said.
Aside from SM City Xiamen, SM Prime has introduced a thermal energy storage plants in SM City Jinjiang. The ice-based cooling system fosters a large reduction in the mall’s utility and energy bills and greatly optimizes energy efficiency.
SM Prime chief finance officer Jeffrey Lim said during a recent forum it was economically viable for the company to put up a solar-powered mall in China because the Chinese government gives back 50 percent of what it invested for this type of project as an incentive. source
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